Financial News
Written by: Huang Jie
2019-11-25 20:45
Last updated date: 2019-11-25 20:46Economic Daily Group (0423) announced that its profit for the half year ended September was 11.14 million yuan, down 73.86% year-on-year; earnings per share was 2.56 cents; interim dividend was 2 cents.
During the period, the revenue was 603 million yuan, down 6.73% year-on-year.
The Group stated that the operating results of the media segment incurred losses during the period under review. The recent social unrest in Hong Kong and the continuing trade tension between China and the United States have weakened consumer sentiment and adversely affected the media segment. Advertisers have become cautious about spending, have lowered their advertising budgets or redeployed marketing plans, temporarily cutting spending on promotion.
However, during the period under review, although print advertising revenues fell, the digital platform continued to maintain its growth momentum and has become a growth driver for the media business. The Group will continue to invest in digital platforms and invest more resources to enhance quality content, innovation and technology, and to cultivate talents.
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